A cutting tool is a relatively expensive item and this expense is compounded if a machining business has to carry a stock of different cutting tools in order to perform different cutting operations. The present invention allows for a reduction in this expense in that it provides for the exchange of a cutting cartridge on a shank rather than the exchange of a whole cutting tool. As the cost of a cartridge is a fraction of the cost of a whole tool, a business can reduce its expenses by carrying a stock of cartridges in place of a stock of tools as such, wherein different cartridges of the stock may be provided with different cutting means or carry different cutting inserts for performing different operations.
A problem with a cutting tool assembly that has an exchangeable cartridge is that the rigidity of the tool is lessened because there is no longer an integral shank supporting the cutting means or insert. The present invention addresses this problem whilst allowing for relatively ready exchange of one cutting cartridge for another.